Nudging Customers into Action with Behavioral Economics

Demonstrating that humans’ irrational decisions actually follow a predictable pattern netted Behavioral Economist Richard Thaler the Nobel Prize last December. His bestseller Nudge: Improving Decisions About Health, Wealth, and Happiness looks at ways to effect change despite humans’ cognitive biases for irrational choices. In the increasingly complex marketing environment, understanding your customers’ root motivations and using them can lead to more effective marketing actions.

Applying behavioral economics “test-and-learn” approach to influencing customer behavior has helped drive Auth0's 100% increase in number of customers and revenues in 2017 alone. Gonto, VP of Marketing and Growth at Auth0, will explore how examining your customers’ choice architecture can lead to a greater understanding of their cognitive biases; and how that understanding informs marketing efforts to drive business goals.

Key takeaways:

1. How to apply specific marketing automation strategies to glean impactful decision-making data
2. Define your customers’ choice architecture
3. Identify your customers’ most actionable cognitive biases
4. A/B testing to refine inbound and outbound messaging